Nano Dimension renews Stratasys takeover bid

Israeli 3D printing firm Nano Dimension (Nasdaq: NNDM) is making a renewed try to purchase Israeli polymer 3D options firm Stratasys (Nasdaq: SSYS). Yesterday Nano Dimension provided to purchase all Stratasys’s shares in money for $16.50 per share, a 25.9% premium on the corporate’s present share worth.

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After elevating greater than $12 billion in money on Nasdaq throughout the increase days of 2021, Nano Dimension purchased a 14% stake in Stratasys in the summertime of 2022. Since then it has made presents to buy which were rejected by Stratasys. On the similar time Stratasys introduced a merger with US firm Desktop Metallic and one other US firm 3D Techniques tried to amass Stratasys.

In the end no deal was ever accomplished as Stratasys rebuffed the takeover makes an attempt by Nano Dimension and 3D Techniques whereas Stratasys shareholders opposed the merger with Desktop Metallic. Now Nano Dimension is attempting once more at an organization worth of $1.1 billion significantly decrease than its most up-to-date provide of $24 per share in July.

Earlier this 12 months, to guard itself in opposition to a hostile takeover, Stratasys adopted a “poison capsule” tactic whereby if any shareholder reaches a holding of 15% of its shares, all the opposite shareholders will have the ability to purchase another share for every share they maintain for simply $0.01. On Friday, Stratasys introduced that it’s extending the poison capsule mechanism to December 2024.

Revealed by Globes, Israel enterprise information – en.globes.co.il – on December 24, 2023.

© Copyright of Globes Writer Itonut (1983) Ltd., 2023.